Serbia’s trade deficit widened by an annual 6% to 5.76 billion euro ($6.76 billion) in the first eight months of the year, the statistical office said on Tuesday.
In the January-August period, exports rose by 8.6% on the year to 21.76 billion euro, while imports increased by 8% to 27.51 billion euro, the statistics office said in a press release.
The export-import ratio in the review period rose to 79.1% from 78.7% in the first eight months of 2024.
Serbia’s most exported products in were electrical machines, to the total worth of 2.4 billion euro, non-ferrous metals (1.4 billion euro), metal ores and residues (1.3 billion euro), road vehicles (1.2 billion euro), and power-generating machinery and equipment (1.1 billion euro).
At the same time, Serbia also imported electrical machines the most, at 1.8 billion euro, followed by oil and oil derivatives (1.4 billion euro), medical and pharmaceutical products (1.36 billion euro), road vehicles (1.3 billion euro), and industrial machines (1.2 billion euro).
In the eight months through August, Serbia’s main export destinations were Germany, which absorbed Serbian exports worth 3.4 billion euro, Bosnia and Herzegovina with 1.4 billion euro, and Italy with 1.3 billon euro. Imports into Serbia originated mainly from China, at 4 billion euro, followed by Germany with 3.2 billion euro, and Italy with 1.8 billion euro.
In August alone, Serbia recorded a trade gap of 739 million euro, widening from a 698 million euro trade deficit recorded in the same month last year. Exports fell by 2.6% on the year to 2.37 billion euro in August, while imports fell by 0.7% to 3.11 billion euro.
In 2024, Serbia’s trade gap widened by an annual 3.8% to 8.54 billion euro.
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